(PREVIOUS REPORT CARRIED ERRONEOUS INFORMATION PERTAINING TO TSX VENTURE)
TSX on Down Side
Qualcomm, Skyworks in Vogue
Equities in Toronto lost some of their sheen as Thursday’s session wound down, with health-care and communication as co-culprits. Investors evaluated a mixed set of quarterly earnings from some of the major domestic companies.
The TSX faded 35.35 points to conclude Thursday at 25,534.48.
The Canadian dollar eked up 0.05 cents at 69.90 cents U.S.
Bombardier reported a 1.5% rise in quarterly revenue on aftermarket business strength and delayed its 2025 forecast, citing uncertainty related to U.S. President Donald Trump's tariffs. Bombardier shares floundered $4.85, or 5.7%, to $79.86.
Suncor Energy surpassed analysts' expectations for fourth-quarter profit, benefiting from increased oil production and robust sales of refined products. Shares in Suncor dropped 45 cents to $54.99.
Canada Goose Holdings missed quarterly revenue estimates, signaling choppy sales in the key luxury goods market China. Canada Goose shares lost $1.28, or 8.4%, to $13.98.
The consumer discretionary sector rose buoyed by a rise of $1.77, or 2.6%, in clothing company Aritzia's shares to $70.03.
Thomson Reuters' shares climbed $15.64, or 6.6% to the top of the TSX at $253.21, after it reported higher fourth-quarter revenue and issued 2025 organic revenue growth targets that could exceed the rate in 2024.
The real estate sector fell, dragged down by Colliers International's fall of $13.96, or 6.7%, to $194.55 after the firm missed fourth-quarter profit estimates.
Economically speaking, the IVEY School of Business presented its Purchasing Managers Index for January. The index backed off sharply last month to 47.1 from 54.7 in December and from 56.5 in January 2024.
ON BAYSTREET
The TSX Venture Exchange dropped 2.44 points to 639.51.
Seven of the 12 subgroups lost ground by the close, weighed most by health-care, sliding 3.6$, communications, losing 3.1%, and real-estate, skidding 1.5%.
The five gainers were led by financials, up 0.8%, while industrials and utilities each improbed 0.4%.
ON WALLSTREET
The S&P 500 climbed for a third straight session on Thursday, as investors weighed the latest batch of corporate earnings.
The Dow Jones Industrials lost 125.65 points to 44,747.63.
The much-broader index took on 14.26 points to 6,083.57
The tech-heavy NASDAQ ballooned 99.66 points to 19,791.99.
Semiconductor names slid, with Qualcomm and Arm each declining more than 3%. Skyworks Solutions lost 24% after reporting its quarterly results. Ford Motor also fell 7% after the automaker forecast a difficult 2025.
Honeywell shares ended the day off more than 5%, dragging the Dow lower, after the company issued full-year earnings guidance that fell short of what analysts anticipated. The conglomerate also announced it would split into three companies.
By contrast, Philip Morris shares surged nearly 11% on the heels of the international tobacco company reporting better-than-expected earnings and revenue for the fourth quarter. The stock notched a record close.
Prices for the 10-year Treasury eased a bit, raising yields to 4.44% from Wednesday’s 4.42%. Treasury prices and yields move in opposite directions.
Oil prices poked ahead 44 cents to $70.59 U.S. a barrel.
Prices for gold fell $11.70 an ounce to $2,881.30 U.S.
S&P Gains for 3rd Straight Session
